Sulzer initiated with a Buy at Jefferies

Jefferies initiated coverage of Sulzer (SULZF) with a Buy rating and CHF 156 price target as part of a broader research note initiating coverage of select Industrials names in Switzerland. The company is among the firm’s preferred picks as its streamlining operations are providing margin growth on top of increasing service revenues, the analyst tells investors in a research note. The stock is also a play on the global infrastructure market, and the company is active in energy, water and process industries which are expected to grow at 4%-6% per year with expected market share gains on the back of its broad portfolio along the value chain, local service capacities and process know-how, Jefferies adds.